Price vs. MA Indicator - Need Some Help
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Category: BullCharts
Forum Name: BullScript
Forum Discription: Technical discussion related specifically to the BullScript programming language.
URL: http://www.bullcharts.com.au/forum/forum_posts.asp?TID=582
Printed Date: 24 Apr 2025 at 12:53am
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Topic: Price vs. MA Indicator - Need Some Help
Posted By: kennerhk
Subject: Price vs. MA Indicator - Need Some Help
Date Posted: 12 Oct 2009 at 2:18am
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I would like to create an indicator that measures the percentage difference between the current price vs. a moving average, say the 50 DMA. It would be similar to the Price ROC indicator in the BC indicator list except that it would compare the current price to a MA instead of a price X days ago. If price = 50 DMA, the indicator would be at 0. If the price was above the 50 DMA by 19%, it would register +19 above the zero line. There would be 0-100 above and 0-100 below the 0 line. Should be pretty simple, but I know nothing about coding/programming/scripting but would like to know what statements I would have to use to convert the existing PROC indicator to do this. Any help would be greatly appreciated. |
Replies:
Posted By: maximo
Date Posted: 12 Oct 2009 at 11:45pm
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Hi ken,
Percentages are very useful in trading that's for sure.
[Description ="Deviation Percent, Max"]expr := expression("Expression");method := inputma("Method",S);period := input("Time period",20,1);average:= ma(expr,period,method);((expr - average) / average) * 100; [horzline =0] |
Posted By: maximo
Date Posted: 13 Oct 2009 at 5:29pm
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Another use of percent is identifying support and resistance areas and profit targets.
[Description ="Percentage Bands, Max"][Target =Price; lineStyle=Solid; color=steel blue]P50:= ma((HHV(C,50) + LLV(C,50))/2,5,E);P50; [lineStyle =Dotted]P50*1.05; { 5% above & below }P50*0.95; P50*1.10; { 10% above & below }P50*0.90; |
Posted By: kennerhk
Date Posted: 13 Oct 2009 at 11:24pm
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Maximo,
This is perfect! Just what I was looking for. Really appreciate the help on this plus the additional support/resistance indicator as well!
 Cheers! |